Recent empirical studies claim that, in addition to levels of corruption, investors are deterred by its unpredictability. I claim instead that it is petty corruption that deters investors. I employ seven subcomponents of corruption for a sample of 102 countries that appear in the 2003 Global...

The Transparency International Corruption Perceptions Index is a composite index with a focus on cross-section information. The usage of the data in the form of time series has been discouraged in the past, due to changes in the composition of sources. Basing assessments only on sources that...

Data on the perceived levels of corruption from a cross-section of countries has been introduced fruitfully into recent empirical research. This chapter reviews studies on the consequences and causes of corruption. It includes research on the impact of corruption on investment, GDP,...